CoinWorld News, January 24 — According to Coinglass data, if Ethereum breaks above $3100, the total liquidation strength of major CEX short positions will reach 728 million. Conversely, if Ethereum drops below $2800, the total liquidation strength of major CEX long positions will reach 704 million. Note from CoinWorld: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. The bars on the liquidation chart represent the relative importance of each cluster of liquidations compared to nearby clusters, i.e., the intensity. Therefore, the chart shows how much impact the price reaching a certain level will have. Higher "liquidation bars" indicate that once the price reaches that level, it will trigger a stronger reaction due to liquidity waves.

· Latest Price Range: approximately $2,900 - $3,000. Between January 20-22, ETH broke below the key psychological level of $3,000. · Recent Trend: Over the past week (up to January 22), it has declined by about 12%, showing weak short-term performance. · Key Levels ( Technical Analysis Reference ): · Recent Resistance: $3,057 - $3,165 · Recent Support: $2,854 - $2,920 · Next Strong Support: $2,716 - $2,750 📈 Market Drivers Analysis Despite the price weakness, the market shows both positive and negative signals, creating a complex current situation. Positive Signals and Support Factors · Institutional and Large Holder Accumulation: On-chain data shows that some large holders ("whales") have increased their ETH holdings at low prices through OTC trades, such as addresses purchasing over 20,000 ETH. · Strong Staking Demand: The validator activation queue on Ethereum far exceeds the exit queue, with total staked amount reaching a new high (about 36 million ETH), indicating a strong willingness to lock in supply long-term. · Solid Fundamentals: · Total Value Locked (TVL) in the ecosystem surpasses $300 billion, reinforcing its role as a stable financial settlement layer. · Maintains an absolute lead in stablecoins (market share about 58%) and Real-World Asset (RWA) tokenization. · Long-term Optimism: While institutions like Standard Chartered have lowered short-term targets (to end of 2026 to $7,500), they remain optimistic about reaching $40,000 by 2030. Main Pressures and Risks · Technical Breakdown and Fatigue: Price fell below $3,000 and lost key moving averages, indicating a weakening technical structure. Momentum indicators like RSI show insufficient buying strength. · Macro and Capital Outflows: Market risk aversion has increased, with traditional funds flowing into assets like gold. Meanwhile, spot ETF funds saw significant net outflows (about $230 million in a single day on January 20), adding selling pressure. · Value Capture and Data Authenticity Concerns: · Despite record-high trading volumes, some analysis suspects that part of this is driven by low-cost "dust attacks," not genuine demand. · The Ethereum mainnet supporting Layer 2 ecosystems sacrifices a large portion of fee income, raising questions about ETH’s value capture capability. · "Valuation Inversion" Phenomenon: Ethereum accounts for about 59% of the crypto market’s TVL, but its market cap only makes up 14% of the total market cap, indicating a severe imbalance. 💎 Summary and Core Observations In summary, Ethereum currently exhibits a divergence of "fundamentals upward, price under pressure." Its ecosystem remains strong as a top-tier public chain, but in the short term, it faces multiple tests from macro sentiment, capital flows, and technical breakdowns. Strategy considerations for different investors: · Long-term Holders: Focus more on robust staking data and solid ecosystem fundamentals. If they believe in its long-term value, the current price zone could be viewed as a potential area for phased accumulation. · Short-term Traders: Need to closely monitor the key support zone of $2,850 - $2,920. If this support is effectively broken, further downside may open up. Conversely, if ETH can regain and stay above $3,000, it could alleviate short-term downward pressure.

Ethereum Foundation funds $2M Post-Quantum team led by Thomas Coratger to prioritize quantum resistance. Plans include bi-weekly dev calls, multi-client testnets, two $1M prizes (Poseidon & Proximity), and roadmap at #Ethereum